Asteron life has recently announced a number of upgrades to their income protection insurance product. Previously known as “Asteron Lifeguard,” the updated portfolio will be known as “Asteron Life Complete” and includes revisions to their disability definition and the implementation of a three tiered approach to disability claims.
Under the new policy there will be three options for income protection; income protection standard, income protection plus, and income protection accident insurance only cover. These policies all come with varying levels of cover to suit different budgets and circumstances allowing for greater range for customers to choose from.
A number of benefits will be included in all three options including rehabilitation benefit, return to business/work benefit and needlestick and medical hazards benefit. The income protection plus option will include business rehabilitation benefits to help disabled business owners restructure their businesses to help them continue working. The definition of day 1 when it comes to disability claims has also been updated to reflect a real ‘day 1’ meaning that if your disability lasts longer than 3 days your benefits can be backdated to the first day of your disability.
As well as enhancing their individual policies, Asteron has also introduced flexible linking to help customers take advantage of bundled offers on life insurance, TPD and trauma insurance. Customers are also able to split the ownership between super and self owned allowing for more flexibility.
Asteron Life Complete launched on 5 March.